When I went to Great America last Wednesday I already knew about how the owner had sold the land with a leaseback, thus putting a definitive timeline on shutting down the park.
I had thought that was because of a cash crunch or something they needed to fill. Which would suck, but the market is hot still here and it would bring in a lot of quick cash, so, OK.
But no. It was not done for that. It was done to pump their bottom line so they can give out stockholder dividends again. (This isn’t hidden, by the way — they state it straight up in their press release.)
It wasn’t done because they needed the cash to stay solvent. It doesn’t seem it was done because this park was losing them a tonne of money. It wasn’t done to improve and elevate the experience for more fun and entertainment, either at this park or others. It’s major goal is only to give money away, mostly to those who already have lots of money.
By closing a park that has been a fixture of fun for the local area since 1976 and could have continued to bring in revenue for many years to come. (Not to mention that by selling now they are also depriving themselves of further land appreciation.)
Which truly sucks, and I say is a sucky way to run a company.